UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Sally Beauty Holdings Following Meeting with Chris Brickman

In a report published Tuesday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on

, but removed the $30.00 price target. In the report, Morgan Stanley noted, “We recently spent time with Chairman, President & CEO Gary Winterhalter & incoming CEO Chris Brickman (currently President & COO). We are encouraged by Mr. Brickman's strategic vision, management style and areas of focus.While he does not have significant retail experience, his immersive approach to the business, CPG/consulting background and time spent on SBH's Board suit him well for the role. Mr. Winterhalter's continued involvement (Executive Chairman through Jan 2018) will be a valuable resource for Mr. Brickman and for the company.Several observations support our view.” Sally Beauty Holdings closed on Friday at $27.88.